Indian Central Bank's Subbarao: Inflation Still High

PUNE, India--The pace of inflation in India is "still quite high," central bank Governor Duvvuri Subbarao said Friday, a comment that is likely to dampen hopes for an interest-rate cut next month.

India's inflation eased to 7.45% in October from the previous month's 7.81% and factory output contracted in September, according to data released this week, raising hopes for a rate cut by the Reserve Bank of India at its policy...